Vietnam's coal imports increased by 60% in volume.

According to statistics from the General Department of Customs, in May 2024, Vietnam's imports of all types of coal reached nearly 6.5 million tons, equivalent to 768 million USD, an increase of 10.2% in volume and 2.2% in value compared to the previous month.

In the first five months of the year, imports of all types of coal reached over 27 million tons, worth more than 3.46 billion USD, a sharp increase of 60% in volume and 29.2% in value compared to the same period in 2023. The average import price for the five months was 128 USD/ton, a decrease of more than 19% compared to the same period in 2023.

In the first five months of the year, imports of all types of coal reached over 27 million tons, worth more than $3.46 billion, a sharp increase of 60% in volume.

Vietnam imports the most coal from various markets such as Indonesia, Laos, Australia, etc. Among them, China is the import market with the largest growth in the first four months of the year.

Specifically, imports of various types of coal from China reached 101,744 tons with a value of over $28.6 million, an increase of 761% in volume and 618% in value compared to May 2023.

In the first five months of the year, imports of this item from China reached over 267,600 tons with a value of over 78.83 million USD, an increase of 147% in volume and 146% in value compared to the same period in 2023.

The average import price in the first five months reached US$294.5/ton, a slight decrease of 0.3% compared to the same period in 2023. Vietnam imports coal from China at the highest price compared to other markets.

According to data from Vietnam Electricity Group, coal usage increased dramatically in the first five months of 2024, with coal-fired power plants accounting for an average of 59% of electricity production, exceeding 70% on some days.

This figure has risen from nearly 45% in the same period last year and 41% in 2021, when Vietnam began drafting plans to reduce coal use and persuaded international donors to commit $15.5 billion to help phase out the fuel.

With a new coal-fired power plant coming online in 2023, coal accounted for 33% of total installed capacity last year, up from 30.8% in 2020, further pushing Vietnam away from its target of reducing it to 20% by 2030.

According to EVN, electricity demand is projected to continue increasing. The forecast for total system electricity production in June is 28.1 billion kWh, a 13.8% increase compared to the same period last year. The system's peak capacity could reach over 52,000 MW, with the North alone potentially reaching around 26,000 MW. Therefore, the use of coal in electricity production will continue to increase.

Regarding China, the country's increasing coal imports this year are challenging previous expectations that Beijing would continue buying coal until 2024.

In March, an executive at China's state-owned Guangdong Energy Group said the country's coal imports this year were expected to reach a record high compared to 2023. Data from last month showed that China's seaborne coal imports had increased by 17% in the first quarter.

Source: https://congthuong.vn/nhap-khau-than-cua-viet-nam-tang-60-ve-luong-325631.html